Portner Flats will bring 96 affordable units to the popular U Street Corridor in Northwest, D.C. The project is a public-private partnership between the District, Somerset Development, Jonathan Rose Cos., New Community Partners and other entities.

While popular urban markets on the East and West coasts are seeing more apartment units created than jobs, Midwestern metros like Indianapolis, Des Moines and the Twin Cities are experiencing significant job growth and a dearth of multifamily housing to support it.

Stonemont Financial Group began construction on the 45-bed mixed-use community in fall 2016, which will be opening in August 2017. The company hired Advantage Property Management to manage the community.

With substantial job gains and above-average population growth, the city continues to foster positive fundamentals for multifamily. However, rent growth has decelerated to long-term averages, as the overwhelming amount of new supply begins to take its toll.